North Sea Infrastructure AS (NSI) is pleased to announce that it has entered into a sale and purchase agreement with TOTAL E&P NORGE AS for purchase of TOTAL’s 5% participating interest in Vestprosess DA, based on an all cash transaction

The transaction takes effect from 01.01.2020 and is subject to customary Norwegian authority approvals.

NSI is a Norwegian based company, whose strategy is to develop a portfolio of midstream assets related to the Norwegian Continental Shelf.

Upon completion of this transaction NSI will hold a total participating interest in Vestprosess DA of 13% – along with its existing participating interest in Nyhamna JV of 13,7%.

Peder Sortland, CEO of NSI states: “We are pleased to announce our first transaction with TOTAL as we continue to build a diversified NCS portfolio of gas infrastructure assets.”